Entity: LEDGER
A ledger is a book or digital file used to record business transactions, including debits and credits, to track financial activities.
LEDGER
Etymology
The term 'ledger' originates from Middle English 'legger' and Anglo-French 'leger', meaning 'a large book'.
Definition
A ledger is a book or digital file used to record business transactions, including debits and credits, to track financial activities.
Historical Context
Ledgers have been essential in accounting practices for centuries, evolving from physical books to digital formats for modern businesses.
Cultural Significance
Ledgers play a crucial role in financial management, providing a detailed record of financial transactions for businesses and organizations.
Related Concepts
Other related concepts include accounting journals, balance sheets, and financial statements.
See Also
A ledger is a book or digital file of final entry, in which business transactions are recorded.